Wimmer Associates 1 LLC bought a new stake in Nucor Co. (NYSE:NUE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,615 shares of the basic materials company’s stock, valued at approximately $1,323,000.
Other large investors have also recently modified their holdings of the company. CI Investments Inc. acquired a new position in shares of Nucor in the 3rd quarter valued at $55,250,000. Northern Trust Corp increased its holdings in shares of Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after acquiring an additional 750,796 shares during the period. Balyasny Asset Management LLC grew its position in Nucor by 55.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock valued at $85,141,000 after buying an additional 524,476 shares during the last quarter. Prudential PLC grew its position in Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after buying an additional 496,700 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in Nucor in the 2nd quarter valued at $26,614,000. 74.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider D. Chad Utermark sold 9,003 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the transaction, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock valued at $2,608,231 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Nucor Co. (NYSE NUE) traded up $0.30 during trading hours on Thursday, hitting $57.94. The stock had a trading volume of 2,899,000 shares, compared to its average volume of 2,678,572. The firm has a market cap of $18,324.72, a P/E ratio of 16.95, a PEG ratio of 1.30 and a beta of 1.58. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $68.00.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. equities analysts forecast that Nucor Co. will post 3.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is 43.90%.
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Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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